Behavioral Mental Health Software Market to Reach Valuation of USD 5.20 Billion by 2028 - Rising Mental Health Population is Driving the Market

Vantage Market Research

Feb 17, 2022

In terms of revenue, the Global Behavioral Mental Health Software Market is expected to reach USD 5.2 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 11.1% from 2022 to 2028. The rising mental health population will boost the online platforms for treatment and diagnosis and ultimately drive the are the driving factors for Behavioral Mental Health Software Market.

Key Findings:

  • Under the components, segment support services is anticipated to dominate the segment for Behavioral Mental Health Software Market and growing at a substantial Compound Annual Growth Rate (CAGR). The regular requirement of aid services like software advancements and maintenance is the major factor sustaining its growth.
  • Community clinics sub-segment held a market significant share in 2021. This is the fastest segment growing in Behavioral Mental Health Software Market. Developing management initiatives to sustain these facilities and growing patient preference for community hospitals are likely to drive behavioral health software adoption in this segment.
  • North America is the largest regional segment. The growing number of individuals demanding behavioral health services, and government budget for behavioral health services in the region.

Some of key players in Behavioral Mental Health Software Market includes - Advanced Data Systems (US), AdvancedMD (US), Cerner (US), Compulink (US), Core Solutions (US), Credible Behavioral Health (US), Kareo (US), Meditab Software (US), Mindlinc (US), Netsmart (US), Nextgen Healthcare (US), Qualifacts (US), The Echo Group (US), Valant (US), Welligent (US), Cure MD (US), Epic systems corporations (US), Accumedic (US), Mediware(US), Allscripts (US).

Increasing adoption of technological and IT solutions in healthcare and medical infrastructure in progressive and developing economies and the rising requirement for optimum and adequate behavioral services are starting the growth in the global behavioral health software market in the coming years. These software tools can be used to efficiently handle the organizational, clinical, and economic functions of the experts working in the field of behavioral health. The growing adoption of electronic health records (EHR) in different healthcare organizations around the world is also anticipated to completely affect the global behavioral health software market.

Increasing adoption of telephonic mental health assistance such as counseling and talk therapy via video conferencing, audio calls has made it feasible for the individuals living in the most remote corners of the world to benefit from these services regardless of their physical sites. This emerging trend, directly backed by the COVID-19 pandemic situation is expected to fuel the demand in the global behavioral health software market in the near future. High instances of stress, fear, unhappiness, and frustration due to the pandemic situation are also pushing the demand for efficient solutions from the international behavioral health software market.

North America is expected to emerge as potential market for Behavioral Mental Health Software Market. The growth of the market in the region can be attributed to a rise in the number of patients with behavioral fitness issues, an increase in the adoption of behavioral health software, and high cognition among people. The increase in entry to behavioral health care, rise in the incidence of behavioral disorders, and government initiatives for increasing awareness about behavioral health.